Summit County – Quarter 3 2018
Summit County (Breckenridge, Copper Mountain, Keystone, Frisco, Dillon, Silverthorne, etc.) offers an unparalleled quality of life with ample year-round activities, a community feel, and breathtaking mountain vistas at every turn. Ideally located on the western side of the Continental Divide and less than a two-hour drive from Denver, Summit County attracts buyers from around the world. Comparing January through September of 2018 to 2017, homes sold quicker even with decreased inventory, showing an increase of buyers desiring the Summit County lifestyle.
Average days on market dropped a notable 22.2% January through September of 2018 compared to 2017, landing at an average of 49 days in 2018. Now is an ideal time for sellers in Summit County as the average price increased 11%, confirming buyers are making purchasing decisions quicker and at higher rates than in 2017. The number of single-family homes sold remained relatively the same year-over-year with a 1.8% increase to 403 single-family homes sold January through September 2018.
Highlights from the Summit County area include the average price of all properties in Frisco rising significantly to $818,489, up 25.6% from 2017, and Dillon/Summit Cove’s average price of all properties rising to a noteworthy $558,243, up 29.4% from 2017. Another considerable increase is Dillon/Summit Cove’s average price for condos, townhomes, and duplexes at a 36.3% gain from 2017, to $409,366 in 2018.
LIV Sotheby’s International Realty is currently representing the highest price listing in Summit County, Triple Creek Ranch, located in Silverthorne. The $23,000,000 property is approximately 255 acres and one of the finest private horse ranches available for purchase in the Rocky Mountains.
As a popular market, Summit County continues to attract buyers who are looking for the desired Colorado mountains lifestyle, without being too far from Denver. Many second-home owners within Summit County come from the Front Range because of proximity.
This Colorado Micro Market Report includes Real Estate data statistics for the following neighborhoods (single family, unless otherwise indicated):
Breckenridge, Copper Mountain, Dillon, Frisco, Keystone, and Silverthorne.